🏗️ Lake Carter Exchange: Apopka’s New Retail and Office Hub Nears Opening
The Lake Carter Exchange, a major 60,956-square-foot, 13-building retail and office center by JW² Development, is nearing completion in a rapidly expanding section of southern Apopka (at the intersection of Ocoee Apopka Road and Keene Road).
The development, which began construction earlier this year, is situated at the epicenter of massive residential growth, with over 3,000 new housing units planned nearby. It sits directly across Keene Road from the future Publix-anchored Shoppes at East Shore and is less than a mile south of AdventHealth Apopka.
High Demand and Opening Timeline
Michael Castrilli of First Capital Property Group confirmed the high level of interest, stating that the first businesses are expected to open as early as April. He noted, “Demand is high and we’re working with the developer to make sure we get businesses that would improve the amenities of the city of Apopka. This specific area is up and coming with the potential to tap into all the new apartments and homes being built.”
Center Layout and Sales Status
The 13 buildings are split into two primary zones:
- Retail/Restaurant (5 Front Buildings): These buildings, facing Ocoee Apopka Road, are dedicated to retail and will feature two restaurants, including a Chinese establishment and another with a drive-through. Buildings 1 and 4 are sold, and Building 2 is set to close mid-November.
- Medical/General Office (8 Back Buildings): These buildings are designed for office and medical use. Building 8 is sold, and Buildings 9 and 10 have letters of intent pending contract.
All buildings (ranging from 1,723 to 6,392 square feet) are for sale, except for Building 3, which will offer three spaces available for lease. The brokerage team anticipates selling approximately half of the buildings by year-end.
Broader Context of Apopka’s Growth
The Lake Carter Exchange is central to a wave of development in the area:
- WMG Development’s mixed-use project across the street will also include 208 age-restricted apartments.
- Centerline Capital Advisors is developing the 404-acre The Ridge at Lake Bronson to the north, entitled for hundreds of residential units, plus commercial, office, and industrial space.
- BSC Companies is planning high-end semi-custom homes in nearby Ponkan Reserve South and Hammock at Rock Springs, with prices starting in the low $800,000s.
JW² Development acquired the 18-acre site for $2.68 million in 2023. Project partners include Schmid Construction and Powell Studio Architecture